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The Question of Reputational Risk: Perspectives From An Industry

Author

Listed:
  • Ernst Csiszar

    (Policy Development and Research, Property Casualty Insurers Association of America (PCI), 2600 S. River Road, Des Plaines, IL 60018, U.S.A.)

  • Gregory W Heidrich

    (Policy Development and Research, Property Casualty Insurers Association of America (PCI), 2600 S. River Road, Des Plaines, IL 60018, U.S.A.)

Abstract
This paper explores the question of reputational risk from an insurance industry perspective. The paper discusses the sources of reputational risk in the insurance context and points to reputational concerns that arise at both the individual firm and industry level. The paper suggests that many reputational risks arise from economic and social factors outside the industry but still carry significant implications for the industry and for insurers operating within it. The paper finally discusses some of the implications of reputational risk for public policy issues facing the insurance industry today and offers thoughts on how those risks must be addressed. The paper concludes that reputational risk is a particularly important issue for the insurance industry, given the nature of the underlying transactions themselves and the public policy challenges the industry faces. The paper concludes that the industry must continue to build its capabilities for addressing this risk. The Geneva Papers (2006) 31, 382–394. doi:10.1057/palgrave.gpp.2510096

Suggested Citation

  • Ernst Csiszar & Gregory W Heidrich, 2006. "The Question of Reputational Risk: Perspectives From An Industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 31(3), pages 382-394, July.
    • Handle: RePEc:pal:gpprii:v:31:y:2006:i:3:p:382-394
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    Citations

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    Cited by:

    1. Juan Pineiro-Chousa & Marcos Vizcaíno-González & M. Ángeles López-Cabarcos, 2016. "Reputation, Game Theory and Entrepreneurial Sustainability," Sustainability, MDPI, vol. 8(11), pages 1-13, November.
    2. Suomi, Kati & Järvinen, Raija, 2013. "Tracing reputation risks in retailing and higher-education services," Journal of Retailing and Consumer Services, Elsevier, vol. 20(2), pages 207-217.
    3. Päivikki Kuoppakangas & Sirkka Hagman & Jari Stenvall & Tony Kinder, 2024. "Social Learning and Reputation Management in an Espionage Crisis," Corporate Reputation Review, Palgrave Macmillan, vol. 27(4), pages 271-282, November.
    4. Eckert, Christian & Gatzert, Nadine & Heidinger, Dinah, 2020. "Empirically assessing and modeling spillover effects from operational risk events in the insurance industry," Insurance: Mathematics and Economics, Elsevier, vol. 93(C), pages 72-83.
    5. Xiaoqian Zhu & Yinghui Wang & Jianping Li, 2022. "What drives reputational risk? Evidence from textual risk disclosures in financial statements," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-15, December.
    6. Christian Siemering, 2021. "The economics of dishonest insurance companies," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 46(1), pages 1-20, March.
    7. Rangi, Pradeep Kumar & Aithal, Sreeramana, 2020. "A Study on Blockchain Technology as a Dominant Feature to Mitigate Reputational Risk for Indian Academic Institutions and Universities," MPRA Paper 105347, University Library of Munich, Germany.
    8. Jason Thistlethwaite, 2017. "The Emergence of Flood Insurance in Canada: Navigating Institutional Uncertainty," Risk Analysis, John Wiley & Sons, vol. 37(4), pages 744-755, April.
    9. Heidinger, Dinah & Gatzert, Nadine, 2018. "Awareness, determinants and value of reputation risk management: Empirical evidence from the banking and insurance industry," Journal of Banking & Finance, Elsevier, vol. 91(C), pages 106-118.

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